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post #1 of 18 Old 01-01-2007, 06:38 PM Thread Starter
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Long time no Post fellas.

Hey whatsup guys, Ok im in a situation right now. My buddy just bought a house about a year ago and redid everything new carpet and everything is real nice. And hes in some debt, Im still 19 and in School my last year get to graduate first week of June. Anyway he wants me to move in and im really not getting along with my dad and that anymore everyone at my house is just pissn me off it seems like im getting bitched at for shit I didnt do. And my question is should I move in after I graduate And work 2 jobs to support my self? Cause I would really LOVE the freedom I would have and he lives in Baldwin nice neighborhood dont have to worry about the place getting robbed or anything like that real nice neighbor's. I mean my parents are ok sometimes but they just been pissing me off more and more anymore. What do you guys think I should do? Cause I really want to move in with him. And people my age really dont have there own house if you kno what I mean.
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post #2 of 18 Old 01-01-2007, 06:59 PM
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Wrong...there are lots of 19 year olds with their own house. I know 3 19-20 year olds that own their own houses...
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post #3 of 18 Old 01-01-2007, 07:08 PM Thread Starter
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Well sorry maybe there are SOME kids. But still do you guys think that would be a good idea???
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post #4 of 18 Old 01-01-2007, 07:34 PM
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Not a good idea if you can't afford it.

Rich
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post #5 of 18 Old 01-01-2007, 09:39 PM Thread Starter
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I think I can afford it, my one buddy works for a pizza company and he delivers and he said he makes like $60-70 a night with tips, and he gets paid $6.50/an hour under the table every Thursday. And If I work there Monday night Wednesday night and Friday night ill be makin mad money. And I would work at this job Monday morning 8:00am-2:00pm and then the pizza company 4:00-10:00 or somethin like that and I think I would be good.
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post #6 of 18 Old 01-01-2007, 09:51 PM
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It would be good if you saved your money in order to purchase a house instead. Buying a house as soon as you can should be your #1 priority in life.
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post #7 of 18 Old 01-01-2007, 09:52 PM
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One of my favorite posters! Moe! What's up?!

Will you have to sign a lease or is it just a month to month/verbal deal? If you're not going to be signing your name on a paper, hell, give it a shot. What's there to lose? If you like it, you stay. If you don't like it, you follow some other option. I wouldn't burn any bridges with the parents though. I mean, ya never know... their spot may need to be a future option at some point.

Good luck, dude!
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post #8 of 18 Old 01-01-2007, 09:56 PM
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Money is what he has to lose...save that money for a house! Trust me!!! I wasted my money for 2 years renting and it was the biggest mistake of my life! Save $$, buy house next year.
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post #9 of 18 Old 01-01-2007, 10:13 PM
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Quote:
Originally Posted by mxboy15u
Money is what he has to lose...save that money for a house! Trust me!!! I wasted my money for 2 years renting and it was the biggest mistake of my life! Save $$, buy house next year.
I don't disagree with buying a house when one is prepared. Generally, I think you make an excellent point: the sooner you can buy, the better. I bought my first property at 21 and have been in real estate investing for 20+ years. But not everybody is ready to buy at 20 or 21. And not everybody is prepared to be a landlord or sell a house (and possibly take a loss), if they decide they want to move to a different city.

Selecting and buying a home is a HUGE decision. Moe may or may not be ready to take on that level of responsibility right now. He may or may not be able to qualify for a mortgage next year. I have no idea what his circumstances or plans are. But yeah, everyone should think about maintaining their credit score as high as possible, working up a downpayment, understanding debt-to-income ratios, etc. And when our pal Moe is ready and prepared, there are first time buyer programs in many states that piggyback on FHA. Depending on where one lives, you may be able to purchase a home with a fixed rate, fully amortized loan and almost no money out of your own pocket - using legitimate programs, not some interest only teaser that will eat you in 3-5 years.

Good luck to him, whichever way he chooses to go.
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post #10 of 18 Old 01-02-2007, 05:30 AM
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If you are not in a position to buy a house then at least have a job BEFORE you move in with your friend.
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post #11 of 18 Old 01-02-2007, 06:01 AM
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Quote:
Originally Posted by Jakes02
If you are not in a position to buy a house then at least have a job BEFORE you move in with your friend.
I agree. Get the job first, see how much money you are making, then determine whether

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post #12 of 18 Old 01-02-2007, 07:07 AM Thread Starter
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I kno I dont want to buy a house yet...Maybe when im like 30 but for now I just want to move out and me and my buddy go to the gym together and everything and he redid everything in the house new walls, new carpet, New floors, new plumbing basically new everything he had the house for about a year now and it's not bad looking at all. So im just gonna get the job cause my one buddy who works at the pizza shop said they are gonna look for people in about a month or 2 so ill go from there. But I won't move out till the first week of june most likely.
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post #13 of 18 Old 01-02-2007, 07:08 AM Thread Starter
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Lol, nothing really Jag warrior just been chilling working, and trying to figure the house issue out thats about it.
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post #14 of 18 Old 01-02-2007, 11:51 AM
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Move out and make an agreement with your boddu that if you can't afford it after a few months then you'll move back home.

Don't buy a house unless you're ready to settle down... Sure if you have a fiance or wife and a steady job, but at 19 and going to work for a pizza place, I'd hold on buying a house.

If you're moving out in June, then in July the minimum wage is going to be raised to $7.50, which means you could prob work just about anywhere and afford a cheap rent.

Or just go to college, that would be a good call.

-Justin, aka Gomer
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post #15 of 18 Old 01-02-2007, 03:06 PM Thread Starter
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Yea thats another good thing that it's going up, but Im not 100% sure of what I want to do when I go to collage so im gonna hold off on that a little untill I kno what I want to do. And I think I could afford it. When I move in at June he said I dont have to pay for that month so thats awsome, I could buy my utilities and all the shit I need. And I just added everything up while I was in school and after all my bills, The gym, the rent, the cell phone bill, and food, going to see if my parents will just pay for the insurance for the truck that they have for me. and I would have like $50.00 left to do whatever, And gas for the truck wich will prob just run me $20.00. I think I can pull it off. I dont want to buy my own house yet not ready for that. And I talked to my mom about this one day and she said if things dont work out well I can always move back so that would be a good thing.
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